Our Housing Bubble Bursts Better Than Anyone Else’s

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Trulia.com reports that across the five boroughs, 39 percent of New York City homes for sale have lowered their asking price. Makes sense; in the land of $40 million townhouses, there's plenty of room to move downward. Moreover, housing prices here are being reduced more than those of homes in any other major city. So long as we're winning and No. 1 at something with this recession, we're happy. [NYP]